Tea Concentrate Market will be reach US$ 4,770.2 Mn by end 2026

Growing Demand for Tea Concentrates in Health Beverages dominating Tea Concentrates market. The global market size of tea concentrate was valued at US$ 3,280.3 Mn and is expected to reach US$ 4,770.2 Mn by 2026 expanding at a CAGR of 4.9% during the forecast period.

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With the growing trend of healthy living, consumers are shifting their focus towards healthier drinking habits. Consumers are becoming more conscious about health and wellness and thus, their buying behaviour is majorly impacted by the ingredients present in various food items and beverages. So, manufacturers are continuously focusing on innovative products to cater to the demand of consumers. Therefore, tea concentrate is one of the popular developments for promoting a healthy lifestyle among the consumers.

Tea concentrate has various health benefits. Recent years witnesses’ preferences for tea concentrates as a form of healthy beverages. Black tea and green tea are widely consumed tea concentrates. The rising consumption of tea concentrate containing herbal ingredient and antioxidants are popular among the consumers which is also fuelling the demand for tea concentrate. Further, several fast-food giants are also providing tea concentrates as a part of their menu. For instance, fast food and beverage giants like Starbucks, Taco Bell, and McDonalds are serving concentrated teas to promote healthy eating and drinking habit among consumers.

There is rising demand for green tea concentrates among the population, which is a major factor in boosting the market growth of tea concentrates. Consumers prefer green tea concentrate, as it improves the memory, the immune system, and metabolism. People prefer green tea on a regular basis as it has several health benefits. Companies sometimes add certain things to tea that are not preferred by consumers. In order to bypass the uncertainty of what is present in the tea, consumers prefer it as a form of concentrate and using it as their own drink that contains nothing but green tea. In addition to this, ingredients present in tea sometimes are not healthy for the body, thereby resulting in the preference for green tea concentrates where consumers can add other ingredients that helps in the improvement of digestion

Key Findings:

• Black tea dominated the market in 2018 and expected to display similar trend in the coming years
• Private label maintains growth in black tea despite lack of innovation which in turn is generating opportunity to the market during the forecast period
• In India emergence of tea bars run by the chains such as Chaayos and Chai Point is generating opportunity to the market during the forecast period
• In India there is emergence of companies such as Vahdam teas, Teabox, and Tea Trunk have made wide variety of tea including premium products
• Overall tea concentrate sales are strongest in the channels that carry predominantly natural and organic products
• Rapid expansion of fast food retail chain is triggering the market growth of tea concentrates during the forecast period

Recent News:

• In 2019, Herbalife announced its plan to establish a product innovation center in Shanghai, China. The company has planned to invest 100 Mn RMB, equivalent to US$ 14.3 Mn in the next three years. The new R&D center in China will help the company strengthen its base in the country.
• In 2019, Coca cola has launched its classic sugarless coca cola in Ethiopia. The company also plans to promote other beverages like Ayataka green tea, through product sampling. This strategy helps the company to expand its product offering in Ethiopia.
• In 2018 PepsiCo, Inc a leading beverage manufacturer announced its partnership with Carnival Cruise Line on 13th November. Further another partnership between Jubilant Foodworks and PepsiCo, Inc took place on 30th October in the same year. According to this partnership, PepsiCo agreed to supply beverages to all the Domino’s Food chain in India. Both B2B partnerships strengthens the PepsiCo’s presence in the market.
• In 2018, PepsiCo partnered with the world’s most popular cruise line “Carnival Cruise Line” to become its ideal beverage partner in North America. The partnership has rather created an opportunity for PepsiCo to feature its product portfolio as premiere brands and make PepsiCo and Carnival Cruise Line a great match.